Many clients search online for do-it-yourself estate planning forms or call an estate planning law firm asking for prices for a simple will. They are often convinced that it is a standard form where you simply change out the names and execute it.
The cost of long-term care in a nursing home facility in many of the urban portions of Maryland range from $11,000 to $14,000 per month. This can be a daunting figure for many upcoming retirees to wrap their heads around.
Learning that you are receiving an inheritance can be a really exciting, per perhaps overwhelming concept. There are a few things to know about inheriting assets because depending on the type of asset, you may need to plan for and manage them differently.
These type of “see-through” trusts come into play when someone leaves an IRA to beneficiaries in a will or trust. Inherited IRA rules are different for spouses and non-spouses, and have changed under the SECURE Act.
There are two basic types of trust documents designed specifically for married couples. One is called the A-B Trust and the other is a Disclaimer Trust.
There is a huge number of people making up what is referred to as the “Sandwich Generation” in today’s society. These caregivers are taking care of their own children while simultaneously caring for elderly parents.
Most clients think of life insurance as a way to provide cash to someone they leave behind. There is another approach to consider about life insurance.
Often the family home is the largest asset in an individual’s or couple’s estate. Many are aware that the home is an exempt asset for the Medicaid application when the other spouse continues to live in it, but it is also the main target of Medicaid estate recovery.
To understand the distinction between Long-term care Medicaid and Health Insurance Medicaid, let’s start at the beginning. Medicaid was created in 1965 as part of Lyndon B. Johnson’s War on Poverty.
